The invention is directed to a storage rack or display stand by which items of jewelry may be displayed and stored, as well as to provide ease of access to and carrying of the items of jewelry. Jewelry display stands are well known and generally consist of fabric covered cardboard with punched holes for earring studs or plastic racks for hanging retail sales cards to which the earrings are attached. Jewelry display stands also include fabric covered cardboard with slots into which rings are inserted and plastic racks with vertical posts at the top from which bracelets and necklaces can be strung. These known stands present a disadvantage in that they are for display purposes and are not suited to be used as either storage or carrying racks.